Questions # 16-20 are based on the information below: Nadal Athletic has the following transactions related to its inventory for the month of August 2021: Date August 1 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($150 each) Purchase Sale ($160 each) Purchase Sale ($170 each) Purchase 16. What is the cost of goods sold using FIFO for August? A. $2,210 B. $2,300 C. $2,650 D. $2,630 Units 7 5 9 7 12 10 12 A. $2,150.50 B. $2,347.50 Cost per Unit $130 C. $2,029.50 D. $2,480.50 120 110 17. What is the ending inventory using LIFO at August 31, 2021? A. $1,880 B. $2,210 C. $2,300 D. $2,630 100 Total Cost $910 1,080 1,320 18. What is the ending inventory using weighted-average cost at August 31, 2021? 1,200 $4,510

10. Mama's Mexican Meals, Inc., had the following activity for an inventory item during June: Unit Units Cost Beginning inventory Purchase (June 5). Purchase (June 15) Sale (June 20). Sale (June 25). Purchase (June 30) 50 $10 10 16 30 14 40 20 10 20 Assuming Mama's uses a periodic weighted average cost flow assumption, cost of goods sold for June would be a. $512 b. $560 c. $768 d. $720

UMET's Stores had the following inventory transactions in 2020:                       Transaction             Units          Cost per unit 1/1                 Balance                    50                      $6 2/14               Sale                          25                        5/23              Purchase                  100                     8 8/21              Sale                           50                      11/5              Purchase                   25                     12 11/18            Sale                           95                        Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average

The following are the transactions for the month of July.       Units Unit Cost Unit Selling Price July 1 Beginning Inventory 55     $ 10         July 13 Purchase 275       11         July 25 Sold (100 )         $ 14   July 31 Ending Inventory 230                   Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. How would i creat a FIFO periodic table?

During 2021, a company sells 280 units of inventory for $89 each. The company has the following inventory purchase transactions for 2021: Number of Units 69 169 189 Unit Cost $64 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Total Cost $ 4,416 10,985 12,663 $28,064 65 67 427 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory %24 147 Cost of goods sold

Please help me

5. Gingerbread, Corp. presents the following information for inventory purchases and sales throughout the month of December. The company uses LIFO Perpetual Method for inventory.  DATE TRANSACTIONS UNITS UNIT COST December 1 Beginning inventory  1,000 $1.00 December 5 Sale 500   December 20 Purchase 1,000 $1.10 December 31 Sale 500   Cost of goods sold for the month of December is ?

Question: Langley Inc. inventory records for a particular development program show the following at October 31, 2020: At October 31, ten of these programs are on hand. Langley uses the perpetual inventory system. 1. Journalize for Langley: a. Total October purchases in one summary entry. All purchases were on credit. b. Total October sales and cost of goods sold in two summary entries. The selling price was $500 per unit, and all sales were on credit. Langley uses the FIFO inventory method. (Please show the calculations/where the number is from) Ex: I didn't understand the part of the answer for the entry Cost of Goods Sold & Inventory 1,710. 2. Under FIFO, how much gross profit would Langley earn on these transactions? What is the FIFO cost of Langley’s ending inventory?

The following data was obtained from the records of ABC Inc., for the current year. Sales during the year were 201 units. (SHOW YOUR WORK) Jan 1, 2021 Jan 11, 2021 Jan 23, 2021 January 31 Beginning Inventory Purchases Purchases 80 units at $8 65 units at $10 55 units at $12 53 units at $14 Purchases Required: Calculate the cost of the ENDING INVENTORY and the COST OF GOODS SOLD using: a) FIFO b) LIFO c) Prepare an income statement using the FIFO method for inventory valuation. Sales were $5000 and operating expenses were $2,000. The income tax rate is 25%.

Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO.